You have logged into MyPark | M X McGraw-Hill Connect X Question 5 - Unit 5 Application A Homework Help - Q&A from Onl x Course Hero X + V X CD ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmheproducts... Apps G Google TPP TW Webex [s Grants-TW MO WORLD Title VI Reporting TSHEET Colvin Bills Park UNIV_MBA DOT Email Imported Reading list Unit 5 Application Assignment Saved Help Save & Exit Submit Check my work 5 Exercise 8-7 (Static) Cash Budget [LO8-8] 7.14 Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary points of its budgeted cash flows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 180, 600 $ 330,060 $ 210, 000 $ 230,080 Total cash disbursements $ 260,000 $ 230,060 $ 220,606 $ 240,080 = Book The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance Hint of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. References Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.) Garden Depot Cash Budget 1st Quarter | 2nd Quarter 3rd Quarter |4th Quarter Year Beginning cash balance $ 20,000 5 10,000 $ 35,800 5 25,800 5 20,000 Total cash receipts 180,000 330,000 210,000 230,000 950,000 Total cash available 200,000 $40,000 245,800 255,800 970,000 Total cash disbursements 260,000 230,000 220,000 240,000 950,000 Excess (deficiency) of cash available over disbursements 60,000) 10,000 25,800 15,80 20,000 Financing: Borrowings 70,000 70,000 Repayments (70,000) (70,000) Interes 4,200) (4,200) Total financing 70,000 74,200) (4,200) Ending cash balance $ 10,000 s 35,800 5 25,800 $ 15,800 5 15,800 Graw Unit_8_Course_Pro...pdf Barnes&Nobles_U...pdf Show all X